China’s southern province of Hainan has established a fund of RMB 1.5 billion (USD 0.2 billion) to support the industrial transformation of Yangpu, an economic development zone in the city of Danzhou, according to the provincial Department of Industry and Information Technology at a press conference held on Monday.

As a pioneer and demonstration area for the high-tech industry in the Hainan Free Trade Port, Yangpu Economic Development Zone will focus on developing green, high-end new materials, equipment manufacturing, and high-tech manufacturing in a smart, sustainable, and efficient way.

The hustle and bustle at Yangpu Port, Danzhou City. HAINAN DAILY

Yangpu will be given support to set up a green energy center and carry out a carbon neutrality pilot project by making use of clean energy derived from wind and solar power and take the lead in exploring a sustainable, efficient, low-carbon industrial model that could be extended across the province and even the country.

With its geographic advantage and the preferential FTP-related policies, Yangpu Port will be encouraged to develop export-oriented, high-tech, and environmentally friendly industries - especially the remanufacturing industry - as a new source of economic growth.

In addition, an advanced 5G network will be incorporated into the infrastructure construction in Yangpu, alongside other cutting-edge information technologies - such as Industrial Internet and Artificial Intelligence – which will be promoted among the companies in the area.

Translator: Chen Shumin